Ericsson announced its second quarter results reporting a 61 % YoY dip in net profit at $ 107.2 million or 800 million Swedish kronor. The decline is attributed to loss reported by Sony Ericsson, STMicroelectronics as well as restructuring losses.

Revenues reached 52.1 billion Swedish kronor. Cash flow was at Swedish kronor 990 million while EPS was at 0.26 Swedish kronor.

“There are different trends in the current market environment. The effects of the global economic climate on the mobile infrastructure market are now more notable, especially in markets with currencies under pressure and tougher credit environment," said Carl-Henric Svanberg, President and CEO of Ericsson. "At the same time the consumer demand for new services and broadband capabilities are quickly accelerating and rollout of new technologies is ongoing in the world''s leading economies. There is also an increasing demand for professional services from operators across the world,” he added.

The company said that it witnessed increased demand for WCDMA and IP transmission products. Managed services contributed as much as 38 % to total revenues. Asia-Pacific sales increased by 10% to Swedish kronor 17.4 billion.

According to the company it will be data driven services which will drive demand from operators for network solutions.